Buying Your First Crypto SAFELY! [Beginner's Tutorial]
Summary
TLDRThis video guide by Fafa teaches viewers how to purchase their first Bitcoin or cryptocurrency. It covers selecting a coin, using platforms like CoinGecko and Bitget, and different methods of buying crypto with fiat currencies, including credit cards, peer-to-peer trading, and OTC. Fafa also explains how to manage funds in various exchange accounts and convert currencies.
Takeaways
- 😀 The video is a guide on how to buy your first Bitcoin or cryptocurrency.
- 🔍 Use CoinGecko or CoinMarketCap to find and research coins before purchasing.
- 💡 CoinGecko is preferred for its user-friendly interface and comprehensive listing of tokens.
- 🔑 To buy a specific coin, search for it on CoinGecko and check the market section for available exchanges.
- 💸 When buying crypto with fiat currency, choose an exchange that supports bank transfers or credit card payments.
- 🌐 Bitget is highlighted as a preferred exchange with a high trust score, wide range of coins, and user-friendly platform.
- 💳 Bitget offers various buying options including credit/debit card, peer-to-peer trading, OTC, and quick buy.
- 📈 Bitget's peer-to-peer trading feature allows for 0% fees and interaction with sellers worldwide.
- 💰 For larger investments, Bitget's OTC service facilitates transactions of significant amounts, starting from $100,000.
- 📱 The purchased coins are deposited into the user's spot account on the exchange.
- 🔄 If USDT or another stablecoin is purchased, it can be easily converted to the desired cryptocurrency within the platform.
Q & A
What is the purpose of the video?
-The purpose of the video is to guide viewers on how to buy their first Bitcoin or cryptocurrency, providing a step-by-step process and introducing the platform 'BidGet'.
What is the recommended platform to find out where to buy a specific coin?
-The recommended platform to find out where to buy a specific coin is CoinGecko.com, which lists all the tokens available and the exchanges they are listed on.
Why is CoinGecko preferred over other platforms like CoinMarketCap?
-The presenter prefers CoinGecko because of its user-friendly interface and comprehensive listing of tokens, including both newly launched and more established ones.
What is the significance of the 'Market' button on CoinGecko?
-The 'Market' button on CoinGecko allows users to see all the exchanges where a specific token is listed, which is crucial for determining where to buy a coin with fiat currencies.
Why is BidGet chosen as the example exchange in the video?
-BidGet is chosen because it is a sponsor of the video, has a high trading volume, lists a wide variety of cryptocurrencies, and is known for accommodating both early and large coins.
What does the trust score on CoinGecko indicate?
-The trust score on CoinGecko indicates the reliability of an exchange, based on factors like volume verification and the authenticity of the trading activity.
How can one purchase Bitcoin or other cryptocurrencies on BidGet?
-One can purchase Bitcoin or other cryptocurrencies on BidGet using various methods like credit/debit card, peer-to-peer trading, Fiat OTC, and quick buy options.
What is the minimum trading size for OTC on BidGet?
-The minimum trading size for OTC on BidGet is $100,000, but the platform can facilitate transactions for much larger sums.
What is a spot account in the context of cryptocurrency exchanges?
-A spot account is where the purchased cryptocurrencies are deposited and held on the exchange, allowing users to trade or transfer funds between different types of accounts on the platform.
How can users convert USDT or other stablecoins to other cryptocurrencies on BidGet?
-Users can convert stablecoins like USDT to other cryptocurrencies by selecting the 'convert' option, choosing the amount, and confirming the transaction within the given time frame due to market volatility.
What additional services does BidGet offer besides trading?
-BidGet offers additional services such as staking, participating in launch pools, and other features that can be explored and utilized by users.
Outlines
🚀 Getting Started with Cryptocurrency Investments
This paragraph introduces the viewer to the world of cryptocurrency investment, highlighting the vast opportunities available. The speaker, Fafa, expresses a mission to explore and share profitable crypto ventures, encouraging viewers to subscribe for valuable insights. The focus then shifts to guiding beginners on how to purchase their first cryptocurrency, emphasizing the need to identify a trustworthy platform for trading. Coingecko.com is recommended for its user-friendly interface and comprehensive listing of tokens. The process includes searching for a desired coin, understanding market data, and selecting an exchange that supports fiat currency transactions. Bitget, the sponsor of the video, is introduced as a reputable exchange with a wide range of cryptocurrencies and a high trust score, making it an ideal choice for first-time crypto buyers.
🛍️ Exploring Different Methods to Purchase Cryptocurrency
The second paragraph delves into the various methods available for purchasing cryptocurrency on Bitget. It explains the process of buying crypto using credit or debit cards, highlighting the convenience and straightforward nature of this option. The video also introduces peer-to-peer trading, which offers zero fees and allows users to interact directly with sellers worldwide. The platform's OTC (Over-The-Counter) service is discussed for those looking to invest larger sums, with a minimum trading size of $100,000 but scalable to much higher amounts. Quick buy options are also covered, which enable users to purchase coins through third-party payment methods after verifying necessary details. The paragraph concludes with an explanation of the spot account, where all purchased coins are deposited, and the process of converting one cryptocurrency to another using the platform's conversion feature.
📚 Conclusion and Next Steps for Cryptocurrency Investors
In the final paragraph, the speaker wraps up the video by encouraging viewers to like, subscribe, and engage with the content for more information on cryptocurrency investment. The speaker expresses appreciation for the viewers' time and offers to answer questions, monitor the chat, and provide further assistance on social media platforms like X. The focus is on ensuring that viewers have a clear understanding of how to buy and manage their first cryptocurrency, and the speaker promises to cover additional topics such as staking and participating in launch pools in future videos.
Mindmap
Keywords
💡USDT
💡CoinGecko
💡Solana
💡Bitget
💡Fiat currencies
💡KYC
💡Spot account
💡P2P trading
💡OTC trading
💡Conversion
💡Crypto Alpha
Highlights
Introduction to buying USDT and the process of swapping crypto currencies.
Mission to find and share ways to make money in crypto, presented by Fafa.
Recommendation to use CoinGecko for researching crypto tokens due to its user interface.
Explanation of how to search for a specific coin on CoinGecko and understand the listed information.
Highlighting the importance of choosing an exchange that supports fiat currency for first-time crypto buyers.
Introduction of Bitget as a preferred exchange platform with high trading volume and a wide range of listed cryptocurrencies.
Description of Bitget's features, including early access to new coins and a pre-market.
Guide on how to buy the first Bitcoin or crypto using Bitget, including selecting the right currency and amount.
Advantages of peer-to-peer trading on Bitget with zero fees and the process of finding a suitable trade.
Details on Fiat OTC trading for larger investments and the process of contacting Bitget for such transactions.
Quick buy option on Bitget and how to use third-party payment methods like Apple Pay for crypto purchases.
Explanation of different types of accounts on Bitget, such as spot, margin, futures, and earn accounts.
Process of transferring funds between accounts on Bitget to utilize the money for intended purposes.
How to convert deposited USDT to another cryptocurrency like Solana on Bitget.
Instructions on finding and managing purchased cryptocurrencies in the spot wallet on Bitget.
Additional features of Bitget, such as staking and participating in launch pools, offered to users.
Invitation for viewers to ask questions and engage with the presenter on social media platforms.
Closing remarks and encouragement for viewers to like, subscribe, and engage with the content.
Transcripts
you click on buy usdt but I get like $12
a DOT thank you BG paid notify the other
party I confirm I confirm and it will
execute the swap now you decided that
you want to buy your first Bitcoin or
you just want to invest in crypto but
you don't really know how well in this
video I'm going to give you everything
you need to know to buy your first
Bitcoin or your first crypto there is a
billion ways to make money in crypto and
I am on a mission to find them all my
name is Fafa and the best parties if I
find anything I share it with you soon
if I make money you can make money too
if that sounds good subscribe to the
channel we bring you the best crypto
Alpha in the industry and if you like
this video I appreciate if you smash
that like button so the first thing you
have to do is you have to figure out
where you can buy the coin that you
actually want to buy now to do that you
need to go onto a platform called
coingecko.com now coin.com lists all the
tokens that you can find um out there
who are a little bit more serious than
just the token that launched there is
coin market cap as well depending on
what you like I personally use coin
geeko because I think it has the best
user interface and it just yeah it's
just great to use so if you go and land
on coin GCO then you will be able to go
up to the top right corner and search
for a coin I'm actually going to pick
Solana because all Bitcoin is obvious
but you can search for any coin that you
want to buy and you will see it listed
up here you can click on that and don't
get scared I know it has charts and
whatever and numbers and fully D market
cap and all that don't worry about all
those if you want to learn what these
are I have a bunch of videos on the
channel check it out how to do due
diligence how not to get scammed how to
analyze a project it's all in there but
for now what I I want you to do is to
click on the market button up here or
Market button up here next to overview
and it will show you all the exchanges
that this token is listed at it's very
important when you're buying a first
crypto you will buy it with most
probably your Fiat currencies a dollar
or euros and that means that you will
either have to do a bank transfer have
to buy it with a credit card and you
need an exchange that can accommodate
that so as you see that here salana is
also available on bit obviously we're
talking about the Bitcoins not Bitcoin
bigcoin so that coin is available in
most of the centralized exchanges in
this example I am going to use bidget
bidget is the sponsor of today's video
they are a fantastic exchang that we
love and use they 17 or rather $18
billion trading volume in the 24hour 800
plus cryptocurrency they actually list a
lot of currencies the reason why one of
the reasons why I like bitg is because
they leas the the early memes and they
leas the very big coins they have a
pre-market as well I'm going to Deep
dive into that in another video but
anyway they have over 25 million
registered users 160,000 Elite users so
it's a proper platform that you can use
to purchase your first crypto what is
also cool if you go back to coin Geto
you can click on a bitg you will be able
to see the trading volume the number of
coins the trust score which is 9 out of
10 pretty cool as well it's like
basically how coin gecko determines the
platform based on different volume if
it's fake fake volume or not 9 out of 10
is fantastic and you will be able to see
all the tokens listed on bidget but let
me show you how to buy your first
Bitcoin so you will land on this page
and what you want to do you want to go
up on the top and say buy crypto now you
will have several options I'm going to
guide you through all of them number one
is credit and debit card now we talked
about this this is self-explanatory
basically you can purchase different
crypto with your bank card the best part
is if you can click on the currencies
here you will see all the available
currencies bunch of bunch of bunch of
currencies so for example let's say that
you want to purchase with pounds you can
select pounds and then down here you can
select what you want to purchase so you
can purchase Bitcoin ethereum you can
purchase their own token bidg get's own
token and many many more so personally I
like to purchase usdt because then I can
just track and I can keep track of what
happened and then I convert but if you
want you can immediately purchase BTC as
well you can just add the amount that
you want to buy for let's say $100 it
will tell you how much it will uh how
much Bitcoins you will receive from this
you can also calculate the free
structure and you can go on buy Bitcoin
you can add your bank card have to fill
in the details and basically once you
approve you just click on a buy and it
will deposit it in your spot account
which I'm going to explain very very
soon the second option is again buy
crypto is peer-to-peer trading now this
is very interesting this is 0% fees so
bidg itself doesn't take any doesn't
charge you anything to do this these are
actual people on any side of the world
that facilitate these transactions so
for example I can select usdt here and
select USD or any other currencies that
I have uh down here and when I see the
list I will be able to pick the green
one sometimes it's grayed out because
obviously these uh these people don't
want to deal with complete nbes who
didn't do anything on the website so
this is why it's worth taking a couple
of Trades as well but you have the
option of actually doing it so when it's
green you can click on buy you will be
able to read all the descriptions here
like what the compan is how does it
really work you will need kyc or you
don't need kyc do they have identity
verified so did they do kyc on the
platform they have their email they have
their phone number connected to this
account so it's not some random people
then you can put in the amount that you
want to buy for for example it says that
is between $10 and $25 there are
Merchants that allow you to do much more
you have to look through and then it
will be through this platform you click
on buy usdt it will tell you that you
need to register for this external
platform it will give you all the
details here you can actually
communicate with the person who you are
buying the Bitcoins from and you can
transfer the money through zle to this
guy here based on the email address or
Girl based on the email address and once
that's done you can click on paid notify
the other party and then will will he
will deposit it to your account the next
option is Fiat OTC so what you can do is
that you can buy a larger chunk of money
now if you scroll down here this is OTC
meaning over the counter it doesn't go
through the same channels that for
example your bank card purchases go
through this is more like a premium for
people who want to invest larger sums if
you scroll down and frequently asked
questions you will see that the minimum
trading size is
$100,000 but the way it works is that
you can contact bidget you will F your
your email how much you want to buy it's
actually all the way up to hundreds of
millions if uh in case that's what
you're into and they will help you
facilitate the transaction this is
actually a very good thing to do in my
opinion if you want to put a bigger
amount of money into crypto then the
next option is quick buy once you click
on there you will see that it's very
similar then to the third party what you
can do is that you can write in again
what amount and what currency you want
let's say I want $100 what do I want to
receive and then I can pick the third
party where I'm willing to to purchase
my my coins through so for example I can
say I want to pay with Apple pay and
then it will give me what third parties
I'm able to use for example I can use
alchemy pay when I click on that I just
have to approve the terms and conditions
I click on next it will take me to the
third party website I'll have to fill in
uh whatever it requests me to do whether
I have to verify my ID or do any kyc
verification depending on the amount as
well and you are able to purchase your
coins through there now once you picked
any of these methods the coins will be
deposited onto your spot account so if
you click on the top right here you see
this little wallet icon you keep all
your money on an exchange in your
exchange wallet so when you click on
there you will land on this page now
whether you use bidget or any other
exchange this is most of the time very
very similar you will have different
accounts on the left here you will see
you have a spot account you have a
margin account you have a Futures
account you have a bot account you have
an earn account and you have to transfer
funds between these accounts to be able
to use the money for what you want to
use so for example if you want to start
Futures Trading you will need to
transfer your money from the spot
account to the Futures account and I
know I'm running ahead we can cover this
in the next video but what I want you to
know that it will be deposited onto your
spot account so you will have to look
for it a lot of times I got a DM saying
hey I bought my Bitcoin whatever I
deposited onto an exchange I don't see
it where it is it's under your spot
account if you're using bidget and if
you're not it's most likely around
either spot or funding account and once
you have that you scroll down here and
you will see what coins you hold bit for
some reason is giving me a lot of these
coins I I don't know if it's air drops
or whatever this is just using the
platform but it's pretty cool actually
that I'm getting these I know it's lower
amounts but I get like $4 of their
tokens $1 of Caspa $12 of dots so I
don't know why these are showing up but
it's pretty cool thank you bigat other
than that what you can really do is that
if you deposited Bitcoin the coin that
you actually wanted to buy you will see
it here you can do a lot of stuff with
it you can stake it you can participate
in the in in the launch pool and much
more again you can do a bunch of other
stuff if you want this you can let me
know in the comment section and I can
cover it in in another video uh but what
you want to do if you have deposited
usdt you will need to convert your coins
and the way to do that the fastest way
is to just click on these three dots
here and you click on convert it will
take you to a converting interface where
you can select what you want to convert
from for example usdt and you can select
the coins that you want let's say stick
with the example of Solana let's say I
want to buy it for $10 I can click on
$10 it will ask me to preview it will
give me a quote it has I I have 8
seconds to approve this price this is
because of the volatility I confirm I
confirm and it will execute the swap
again if I go back to my spot wallet I
click on the wallet icon up here click
on my spot wallet and the salana will
show up down here in my spot wallet and
this is basically it you have bought
your first Bitcoin or your first Solana
which I'm very happy about again you see
how well bitg works you do need if you
want to purchase coins with your Fiat
money meaning USD or or or or Euros you
will need an ex change that requires kyc
which is no your custumer because of
these kyc and regulations you can't
purchase crypto with fiat currency your
bank card and whatever on any exchanges
we do recommend bidg we work with Bigg a
long time you see how easy it is to do
there is a link in the description check
them out and let me know what you think
and also let me know if you have any
questions I am monitoring the chat for
the next 24 48 hours and beyond that as
well and another way to reach me is to
follow me on X there is a link in the
description to my X account as well
you'll see it here it's Fe the many I'll
reply to all the questions so if you get
stuck with this I'm very happy to help
there as well guys thank you so much for
watching I truly appreciate you let me
know what you thought smash the like
button subscribe to the channel and I
believe I will see you in the next one
take care
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